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MARSTEF

Active Private limited companyfounded 2008active for 18 yearsSint-Elooistraat 20, 8210 ZedelgemKBO/BCE: BE 0806.991.993
MARSTEF
Financial year 2025
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Annual accounts 2025

micro format, filed on 31-07-2026, on the day of the deadline
€35,836
▼ 41.6%
€7,973
▼ 3.0%
€250
▲ €1,149
-€81,970
▲ €74,857
4.9%
▲ 1.1 percentage points
0.08
▲ 0.01

Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.

Turnover ≈ €59,000. Estimated: probably between €44,000 and €85,000.

Balance sheet

balance sheet total €391,294 on 31-12-2025
What the company ownsHow it is paid for

in euro

in euro

Position in the sector

Compare with sector

4.9%

Higher than 26% of 19,803 companies in 2025.

0.08

Higher than 10% of 18,977 companies in 2025.

0.1%

Higher than 39% of 19,446 companies in 2025.

MARSTEF Middle half of the sector 80% of the sector Micro accounts in real estate (NACE 68)

Net result: middle half · Equity: middle half · Balance sheet total: middle half · Working capital: bottom quarter

Filed annual accounts

as filed with the National Bank, click a year to choose it
Line Trend20252024202320222021202020192018201720162015201420132012201120102009
Balance sheet: assets
20/58 391,294496,163380,871415,307426,019453,295498,363498,399234,619245,373258,801274,881288,613302,856315,702318,510335,450
20 -------------135315495675
21/28 384,369484,227368,309404,378420,511448,894487,775486,259215,942232,123249,917267,711282,882298,188313,539316,342334,317
22/27 384,369484,227368,309404,378420,511448,894487,775486,259215,942232,123249,917267,711282,882298,053313,224315,847333,642
22 384,369477,152359,372393,578420,511448,894487,775486,259215,942232,123249,917267,711282,882298,053313,224315,847333,642
26 07,0758,93810,800-------------
29/58 6,92511,93512,56110,9295,5094,40110,58812,14018,67713,2508,8847,1705,7314,6682,1632,1671,134
40/41 2892,8898,1207,305544672849915,8917,2785,5503,5182,5401,508---
40 1951,825462-----14,000--------
41 931,0657,6597,30554467284991,8917,2785,5503,5182,5401,508---
54/58 2,4361,4373,0653,6243,4342,1793,0662,6542,7862,8221845022,1412,1101,1132,1671,134
490/1 4,2007,6091,37601,5312,1567,2389,387-3,1503,1503,1501,0501,0501,050--
Balance sheet: equity and liabilities
10/49 391,294496,163380,871415,307426,019453,295498,363498,399234,619245,373258,801274,881288,613302,856315,702318,510335,450
10/15 19,06918,81919,71718,77017,2769,46411,15012,02016,65416,63715,60916,69816,38916,27515,1863,9604,623
10/11 18,55018,55018,55018,55018,55018,55018,55018,55018,55018,55018,55018,55018,55018,55018,55018,55018,550
100 ------18,55018,55018,55018,55018,55018,55018,55018,55018,55018,55018,550
14 5192691,167220-1,274-9,086-7,400-6,530-1,896-1,913-2,941-1,852-2,161-2,275-3,364-14,590-13,927
17/49 372,225477,344361,153396,537408,744443,831487,213486,379217,965228,736243,192258,183272,224286,582300,517314,549330,827
17 281,156307,335290,051323,590356,439388,261419,683426,109198,237213,303227,685241,414254,521267,034278,980290,383301,269
170/4 281,156307,335290,051323,590356,439388,261419,683426,109198,237213,303227,685241,414254,521267,034278,980290,383301,269
42/48 88,895168,76268,81970,55739,54655,57066,75160,27019,72714,38315,50716,76917,70319,54821,53724,16728,508
42 29,84525,27833,53932,84931,82231,33530,48228,35415,06514,38213,73013,10712,51311,94611,40310,88610,393
44 4204,2502,3993,026-1,4091,40921,7301,471---191----
440/4 4204,2502,3993,026-1,4091,40921,7301,471---191----
45 4429388--------------
450/3 4429388--------------
47/48 58,188139,14132,79334,6827,72422,82634,86010,1863,19111,7783,6624,9997,60210,13413,28018,116
492/3 2,1741,2472,2832,39012,759-780--1,050------1,050
Income statement
9900 35,83661,38247,32642,22947,56549,20343,71337,36730,93631,61329,92429,48329,88131,83929,65432,13023,062
630 24,68151,26336,06927,63528,38335,44624,26327,33218,60117,79417,79415,17115,30615,3512,80317,97422,468
640/8 3,1821,9022,2864,1041,9201,8084,0063,0091,6651,7461,5431,7331,6262,0341,7464451,726
9901 7,9738,2178,97110,48917,26111,94915,4437,02610,67012,07310,58712,57912,94914,45425,10413,710-1,132
75/76B 230-----20---------
75 230-----20---------
65/66B 7,7459,1168,0248,9969,44913,63516,31311,68010,65311,04611,67512,27012,83513,36513,87914,37312,795
65 7,7459,1168,0248,9969,44913,63511,26711,68010,65311,04611,67512,27012,83513,36513,87914,37312,795
66B ------5,047----------
9903 250-8989481,4947,812-1,686-870-4,634171,028-1,0893091141,08911,225-663-13,927
9904 250-8989481,4947,812-1,686-870-4,634171,028-1,0893091141,08911,225-663-13,927
9905 250-8989481,4947,812-1,686-870-4,634171,028-1,0893091141,08911,225-663-13,927
Appropriation of the result
9906 5192691,167220-1,274-9,086-7,400-6,530-1,896-1,913-2,941-1,852-2,161-2,275-3,364-14,590-13,927
14P 2691,167220-1,274-9,086------------
Document PDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDF

The notes to these accounts have 14 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.

Source: Annual accounts 2025 at the NBB, filed on 31-07-2026.

Download as CSV

Filings

each dot is a set of accounts, on the day it reached the National Bank
Financial year Type Filed Reference Document
31-12-2025 micro format 31-07-2026 2026-00364485 PDF
31-12-2024 micro format 22-07-2025 2025-00294351 PDF
31-12-2023 micro format 31-07-2024 2024-00311471 PDF
31-12-2022 micro format 31-07-2023 2023-00304715 PDF
31-12-2021 micro format 29-07-2022 2022-20259424 PDF
31-12-2020 micro format 30-07-2021 2021-43400410 PDF
31-12-2019 micro format 17-08-2020 2020-41800545 PDF
31-12-2018 micro format 31-07-2019 2019-42000538 PDF
31-12-2017 micro format 27-06-2018 2018-24200268 PDF
31-12-2016 micro format 31-07-2017 2017-39900008 PDF
31-12-2015 abbreviated format 30-08-2016 2016-54400015 PDF
31-12-2014 abbreviated format 23-07-2015 2015-34300292 PDF
31-12-2013 abbreviated format 12-08-2014 2014-41700347 PDF
31-12-2012 abbreviated format 31-07-2013 2013-38700200 PDF
31-12-2011 abbreviated format 17-07-2012 2012-31000007 PDF
31-12-2010 abbreviated format 29-08-2011 2011-48200306 PDF
31-12-2009 abbreviated format 06-07-2010 2010-28200074 PDF

Key figures and ratios

per financial year, computed from the annual accounts
Line Trend20252024202320222021202020192018201720162015201420132012201120102009
32,65459,48045,04038,12545,64547,39539,70634,35829,27129,86828,38127,75028,25529,80527,90731,68421,336
24,93150,36437,01629,12936,19533,76023,39322,69818,61818,82216,70515,48015,42016,44014,02817,3128,541
0167,181-011,50201,00625,780296,6432,4200000000355,884
999-1,628-5581901,255-887412-132-362,638-319-1,63831997-1,0541,034-
-81,970-156,827-56,257-59,628-34,038-51,169-56,163-48,130-1,050-1,133-6,623-9,599-11,972-14,880-19,374-21,999-27,374
4.9%3.8%5.2%4.5%4.1%2.1%2.2%2.4%7.1%6.8%6.0%6.1%5.7%5.4%4.8%1.2%1.4%
0.080.070.180.150.140.080.160.200.950.920.570.430.320.240.100.090.04
19.5225.3718.3221.1323.6646.9043.7040.4713.0913.7515.5815.4616.6117.6119.7979.4271.56
1.3%-4.8%4.8%8.0%45.2%-17.8%-7.8%-38.6%0.1%6.2%-7.0%1.9%0.7%6.7%73.9%-16.7%-301.3%
0.1%-0.2%0.2%0.4%1.8%-0.4%-0.2%-0.9%0.0%0.4%-0.4%0.1%0.0%0.4%3.6%-0.2%-4.2%
4.226.525.614.244.83------------

A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.

Securities and guarantees

on own assets and for others
Item20252024202320222021
Mortgages, amount registered€25,000€25,000€50,000€50,000-
€130,000€130,000---
Carrying value of the mortgaged assets€384,369€401,975€359,372€393,578-

Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)

Investments

fixed assets acquired
Item20252024202320222021
Tangible fixed assets-€167,181-€11,502-
Financial fixed assets€0----
€24,681€51,263€36,069€27,635€28,383

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Insights on MARSTEF

The operating result for 2025 is 3% lower than in 2024 and the lowest since 2018. It is the fourth fall in a row.

Debt's share of the balance-sheet total falls from 96.2% to 95.1%. Equity is higher and debt is lower.

Next steps

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